Kenya's Koko Networks collapses, leaving 1.5 million families without clean cooking fuel
Koko Networks, a major supplier of bioethanol stoves in Kenya, has collapsed with debts of £127.2 million. The company's failure leaves nearly 1.5 million households without access to its clean cooking solutions. Creditors now face losses totalling £126.9 million after the firm's insolvency was confirmed. Before its downfall, Koko Networks provided subsidised bioethanol stoves to over 1.5 million Kenyan families each year. These systems offered a cleaner alternative to charcoal and firewood, cutting deforestation and serving as a key energy source in cities like Nairobi. The company's business depended on selling carbon credits to cover operational costs.
In the fiscal year ending December 2025, Koko Networks reported revenues of £44.7 million. However, its total assets stood at just £1.45 million against debts of £127.2 million. The Kenyan government's refusal to issue a letter of approval (LoA) for carbon credit sales made the subsidised fuel model unsustainable.
With no access to compliance markets, the company could no longer fund its operations. PricewaterhouseCoopers (PwC) has now taken charge of recovering value from the remaining assets. A virtual creditors' meeting is set for April 10, 2026, to discuss the winding down of the business. The collapse of Koko Networks leaves creditors with losses of around Sh21.96 billion. The company's failure also disrupts a vital supply of affordable, clean cooking fuel for millions of Kenyans. PwC will oversee the liquidation process as the firm ceases operations.
